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Citizens & Northern Corporation operates as an independent community financial services company through Citizens & Northern Bank, providing banking, financial, investment and insurance services in Pennsylvania and New York. Company developments commonly address community banking operations, commercial, residential and consumer lending, deposit products such as Flex CDs, digital banking technology and business banking services.
Recurring announcements also cover product and service initiatives, including MoneyArmor fraud and cybersecurity resources and Clover point-of-sale solutions for local businesses. Other updates include operating and financial results, capital actions, governance matters and community programs tied to C&N’s local markets.
Citizens & Northern (NASDAQ: CZNC) has announced a definitive agreement to acquire Susquehanna Community Financial (OTCPK: SQCF) in an all-stock transaction valued at $44.3 million. The merger, expected to close in Q4 2025, will expand CZNC's presence in central Pennsylvania.
The acquisition will add approximately $600 million in assets to CZNC's balance sheet, resulting in proforma figures of $3.2 billion in total assets, $2.3 billion in loans, and $2.6 billion in deposits, along with 7 additional branch locations. Cost savings of 30% of SQCF's operating base are expected to be fully realized by 2026.
The combined entity will maintain a diversified loan portfolio with residential loans at 31%, investor CRE at 30%, and C&I at 23%. CZNC's CET1 ratio is projected to decrease from 13.6% to 11.5% at closing. The transaction includes a pre-tax credit mark of $6.2 million and an interest rate mark of $14.6 million to be accreted over approximately 5 years.
C&N (NASDAQ: CZNC) has announced a partnership with Clover®, a leading point of sale (POS) technology provider, to enhance business operations for local enterprises. The collaboration offers an integrated POS solution featuring multi-payment processing, real-time inventory management, employee management tools, customer engagement features, and data-driven business insights. The system is designed for various industries including retail, restaurants, and service-based businesses.
The partnership aims to help small and medium-sized businesses streamline operations, improve customer service, and increase efficiency through Clover's all-in-one solution for managing payments, inventory, and customer interactions.
C&N's Giving Back, Giving Together program has launched its Standing Strong Against Cancer initiative, raising over $30,000 towards its $100,000 goal since June 1, 2024. The campaign aims to support local cancer patients financially and with necessary resources. Fundraising efforts include a T-shirt sale and direct donations through an online platform.
The program partners with nine local cancer organizations across Pennsylvania and New York. Since 2015, C&N's employee-driven giving program has raised over $750,000 and collected over 42,000 essential items for various local causes. The current campaign focuses on providing tangible support to cancer patients in the community, covering treatment costs, transportation, and care packages.
C&N (NASDAQ: CZNC), a leading community bank, has launched MoneyArmor, a comprehensive fraud and cybersecurity program. This initiative aims to empower businesses and individuals with tools and knowledge to protect their finances in the digital age. Key features include:
1. Fraud Detection and Prevention: Advanced monitoring systems and real-time threat detection
2. Personalized Education: Tailored training and resources for various digital literacy levels
3. Community Engagement: Initiatives promoting collaboration and education on online safety
MoneyArmor offers user-specific resources, including interactive games for teens, actionable tips for adults, protection for seniors, and curated content for businesses. The program aims to bridge the generational gap and foster a culture of digital responsibility.
C&N, a community-oriented financial services institution, announced that it raised over $98,000 through its 2023 Giving Back, Giving Together program to support local senior citizens. Alongside monetary contributions, C&N teammates collected 3,022 essential items and volunteered 166 hours. C&N partnered with 24 local senior organizations, enriching the lives of seniors through essential services. The 2024 initiative will focus on supporting local cancer patients through monetary donations, collection drives, and volunteer work. Since 2015, C&N's program has raised over $743,731, collected 42,209 items, and volunteered 1,649 hours to various causes.
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